tv Making Money With Charles Payne FOX Business May 8, 2018 6:00pm-7:00pm EDT
liz: primary election polls closing in just about an hour in four states. catch neil cavuto's special coverage 8:00 p.m. eastern time. thank you for watching. charles payne, "making money." charles: president trump says the iran nuclear deal is defective at its core. he kept his campaign promise over the objections of our allies. stocks and oil hit a chopping session. but climbed by the close. good evening, i'm charles payne and we begin with the monumental decision on iran.
president trump us bigging the wishes of key allies around the gloib. president trump: i'm announcing the united states will withdraw from the iran miewk jar deal. in a few minutes i will sign a presidential memorandum to begin reinstating u.s. nuclear sanctions on the iranian regime. we'll be instituting the highest level of economic sanction. any nation that helps iran in its quest for nuclear weapons could also be strongly sanctioned by the united states. america will not be held hostage to nuclear blackmail. charles: former president barack obama quickly slammed the decision calling it a serious mistake. joining me, tammy bruce and
deroy murdock. and lefter munson. tammy, monumental news. president trump promised it on the campaign. if you go back last year, most of in the mainstream media said trump blinked and he wasn't serious. but he was serious. >> in the speech today he laid it out. what they were looking at. he learned. you recall the layout of the travel ban. he now knows he's gig everyone the details. it wasn't just a promise. it was about taking action on something for america and also for the world. it attached to his north korean announcement. he said north korea has been dealing and working with iran
when it comes to ballistic missiles. we know they have been violating existing u.n. rules. they determined it's the right thing to do, and i think america will be better off for it. charles: deroy, people are saying how can you do this if the overarching narrative is iran won't keep its word. >> i went back and took a look at some of the details of this thing. this is a direct quote from the state department. she says it's not a treaty and it's not a signed document. in terms of verification, all military bases are off limit.
if we say there is something funny going on. they have 24 to 78 days to move everything out. it's a fraud and a farce. i'm happy to see this reprehensible piece of obama's legacy is gone. li robin, you put out a scathing rebuke of this despite the fact he took unilateral measures to push this through in the first place. >> donald trump promised to put the best people in position. president obama. >> president trump said he would put the best people in the position and he would lisp to them, but he has not. pompeo came out against this. he said they were in full compliance. the chair of the armed services committee was against this.
and general mattis said he read this thing four times and was astonished how comprehensive this deal was. i think donald trump has a fundamental lack of understanding about this thing and president obama was right to criticize this. charles: let me share part of president obama's statement. that's why today's announcement is so misguided. walk away from jcpoa turns our back on america's closest allies and an agreement that our country's leading diplomats, scientists and intelligence professionals negotiated. it's a serious mistake. without the jcpoa the united states could be left with a losing choice between a nuclear
armed iran or another war in the middle east. >> i don't agree with that tape. i think what president trump has shown. he wants to disrupt things. he saw the way we were implementing the iran deal, even though iran had not violated it. the deal it sell was so poorly done that it's better off getting rid of it. he need to work with our european allies to reimpose sanctions and get a better deal with the iranians. this is an opportunity that will require a lot of work by the president and our new secretary of state. charles: certainly iran violated the sort of spirit of the deal. by their aggressive approach for intercontinental ballistic missiles. the way they have been able to take advantage of these circumstances without a doubt is unquestionable they violated the spirit of what this was supposed
to be. >> there is no way to confirm what it is they are doing. what we do know writes there is a regime we can confirm through the u.n., they violate things all the time. we know of their relationship, confirmed with north korea. and this is fascinating that we are now building with north korea and hopefully separating out their ability to use iran for the miniaturization of the weaponry. but the bottom line is, to say they haven't violated, it's a regime where we can't confirm that. but the iranians are now in economic peril. the reason, our allies are concerned because there are major deals going on. at the same time you have got -- he threatened in this statement to sanction anyone who helps them with their nuclear program. that speaks to russia and china and anyone in europe who has been moving through using the
business framework to asit with the nuclear framework. >> we talk about how biting this will be for the iranian economy. because oil is priced in dollars, it will hamstring them. if they find outlets for that crude it will be at vastly reduced prices. there is already upheaval. this will tip the scales. >> i think a lot of the pressure on them weren't away when obama sent $150 billion in unfrozen assets. send them a little bit at a time. obama gave it all to them at once. they said thank you. they started testing missiles. they kidnapped some of our sailors and put them on camera. this deal did not improve their
behavior. tammy: obama knew they would violate and this would be cut out and he wanted to give as much to them as he could. charles: the money was owed, going back to the carter administration. there wasn't a sense of urgency to give them all of that money. it looks like president trump bent over backwards. they humiliate our country over and over again. >> this was an imperfect deal, but it took years to negotiate. as a veteran, the concern here. this is the greatest gamble of president trump's presidency. he's counting on disrupting their economy to the extent their government fails. the problem is he's betting that what could happen here is the
people of iran could turn on our country. they have the uranium to produce weapons. they were already adhering to according to donald trump's own people in command. charles: it felt like whatever threats existed yesterday, i don't know there is any new threats. but i believe iran knows there is a new sheriff in town and we could get a better deal out of this. thank you all have much. it's primary season. it's upon us. polls are closing in all four states. who will run in the all important mid-term elections this fall. we discuss that next.
charles: primary season is officially here. the first primary races taking place in virginia, north carolina, west virginia and ohio. capri, a lot of these races are in your neck of the woods, so to speak. this is the heartland where president trump was able to sway a lot of president obama voters and bring them over to him and made history. how important is it tonight? >> the three states in question that are closest to me are indiana, west virginia, and my home state, the state of ohio. these are states that president trump won and we have united states senate seats up for election this cycle that are
held currently by democratic incumbents. so many will be riding on who comes out of these gop primaries. particularly in the cases of indiana and west virginia, it is about who loves trump more, who can align themselves more with donald trump. but the question becomes who is the best individual at the end of the day to win the general election. all three these will have a direct impact on the balance of the united states senate. charles require want to take a listen to two of the three leading candidates in west virginia. >> i think they hurt themselves by calling me a moron and bigot. people in west virginia know me better. they have known me for 30 years. >> don blankenship's record
would make him a loser in the fall. we have gotten a lot done in the past years and the voters should look at those two resumes. charles: president trump asked the voters of west virginia not to vote for him. what if he were to win tonight, would it have negative implications beyond west virginia? >> the polls close in about an hour. it will make a difference. his message to the people, i'm an outsider. if you want to make a continues and drain the swamp, i'm your candidate. of course, the record is a little bit sketchy and it might be difficult for him to win a general election because of being a convicted felon. and he explained saying it was
big government that went after him and the conviction was an indictment on the miners. if you look at his story he might have a good reason. but the way the democrats will hammer him, i think republicans are in the right when they say this could jeopardize our win in a general election. charles: the story of obama percent kiewght him does resonate in west virginia. we have seen a few elections since 2016. it seems the candidates doing the best have embraced donald trump. many are saying me too, me too, i best reflect president trump. is that maybe the winning formula in november? >> it may be a winning formula to get out of the republican primary, but i'm not sure it,
the way to get ahead in the general election. joe donnelly, the current democratic senator won in 2012 even though president obama lost the state of indiana in 2012. he's saying i'm the number this race while the other two are running make america great again ads. so you see a lot of that embracing donald trump. and it might be effective in indiana. i don't know if it will translate into the race in ohio. charles: ladies, thank you for your expertise. i appreciate. kim jong-un pays a second visit to china just days before the
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charles: president trump and chinese president xi jinping hashing things out earlier on the phone today. both sides are working to bridge the began on trade after not arriving at a consensus in the meeting yesterday in beijing. it's ahead of korea's highly anticipated meeting. joining me now to help break it down, lanny chin, former policy director for mitt romney. and deroy murdock is back.
president trump has been very, very complementary of president xi, he has shown a tremendous amount of respect. and i feel it's sort of mutual and makes me believe maybe some sort of deal can happen. >> the hip between president bee relationship between president trump and president xi is something to look at. what are the chinese willing to give and what are we willing to give. the trade issue is part of a three-dimensional chess game. i think a lot of reporting suggests nothing got done when the mayor candle nation visited
beijing. ing this was all about table setting. we have between now and november to resolve the trade situation. let's not be so quick to judge. the table setting is just as important as what may happen next. >> people said nothing happened, like they were going to come back with an arm full of things. it was the first stage of a dramatic set of meetings. we are talking about hundreds of billions of dollars in the balance. both presidents want to prove to the people they represent that they won't buckle. the eyes of the world are on this. it's not going to than overnight. >> you look at the ongoing discussions about renegotiating nafta. that's taking months and months to go through. china is such a different country on the other side of the planet.
what is good is the tone as you mentioned between trump referring xi as my friend and xi responding i cherishes the good relationship with president trump. that warm tone is encouraging. charles: if there was a deal put together, how would it look? one element the media is missing is the administration's attempt to curb or slow down advanced technologies. china has gained so much from stealing our intellectual property, that they are a bona fide threat to our technology. another question of intellectual property and theft of intellectual property, i think that's the area where we have the fairest concern. that needs to be addressed. as far as the other technology aspects, i hope we have a flat
5% tariff and leave it at that. charles: lonnie, how do you see it playing out? >> can we get more across necessary china. semi conductors and you a toes. we have significant interest in continuing to send the products we grow and ranch to the united states. unless we resolve intellectual property, none of this conversation matters. >> we can't forget, china is trying to make their economy more domestically driven and bring import prices down. earnings have reached their highest level in 45 years. i have all these details straight ahead.
joining us ised the president and ceo of nfib, and stephanie hail. the nfib, your organization expresses was' going none this country before anyone else. the surge in optimism in your poll remained high. it was instantaneous after the election. but now it feels like small businesses are seeing the rewards they anticipated. >> you are right. we have been representing small businesses for 75 years, and we have been doing this economic you are vape every month for 45 years. the day after the election small business optimism began to surge and it held at historic levels. in april we have reports of the
highest level ever of business profits. main street is on fire and it's sustained over 17 months. charles: the government put out the jobs report. 6.6 million job openings in construction, business, transportation, manufacturing. it's an amazing time in this economy. >> it's one record-setting event after another. what i liked in particular is people are starting to expand their investment. that has been missing for 8 years. that will lead to productivity and wage growth. >> i think businesses are finding out it's not a fluke. president trump promised something. they voted for him expecting him to deliver in a certain way. and the people who said it wouldn't work have been wrong
consistently. we might not have specifics, but lit work. this is translating into another poll, our things are going well in the u.s. and how much americans agreed with that. in the between when the congress changed over. 27% said things are going well. the latest, 57% of americans because of our small businesses affecting women, people of color and the economy in if general. >> we have seen the president go to war with big businesses. he has gone to war with wall street. he sent the stock market down when people told him not to. when you see someone who is not afraid to go to bat for small businesses. >> small business confidence is going up, not down. we have a president of the
united states delivering on the tax cuts and cutting regulations. these are the things that inspire people to invest more in their businesses and hire more people to work for them. this fascinating number, 3.9%. we should be talking about this all day long. the news is so negative that this might influence people not to start a business. the whole world is on fire, so why bother. charles: i looked at businesses 1-49 employees. we are averaging 14,000 new every single month. last year the was a little less than 10,000. in 2016 that up in has fallen to less than 5,000. isn't that the crux, the heart beast our economy? >> you are exactly right.
but one of the things that's interest being this economic trend report. for years small business owners reported that regulations and taxes were their biggest problem. after the deregulatory numbers. there has brand-new a tremendous change in the landscape of what business owners are worried about. taxes are no longer that number one problem. charles: it's a high class problem, but one we must address. coming up, it was a choppy session on wall street. there were several important messages from this session. i'm going to share it with you next.
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charles: it sauce a seesaw session as looming dead lines are approaching for potential trade deals with mexico and canada. oil stocks rallied higher even as crude oil sold off. financials, it seems like they resumed a role as something of a safe haven. then there are the industrial names. they continue to rally on strong earnings. expediters and jay cox engineering posted strong results.
old dominion popping big time. there are rumors amazon preparing to make a bid. it's the kind of session you would expect people to bayou tilt stocks. the market continues to gyrate, looking for a catalyst. joining knee, a senior vp and chain of investment officer at icma retirement. the message in the markets seem to be all over the place, just like the market itself. what should we gleenl from it. >> investors have to sit back. you saw sectors lied the market -- lead the market at the end of the day. higher interest rates, higher inflation, good for financials. energy prices maintain that higher level.
energy prices were up at the end of the day. >> i agree with wayne. there is a lot of indecision within the market. a lot of anxiety weighs on the market with regard to bigger political issues. the market hasn't reacted too much with the exception certain names to very good earnings reports. charles: cater pillar set the tone. this is as good as it gets. we don't have to grow as fast as we did the first quarter. i would expect we can maintain expansion and growth for earnings and the economy. ago earnings in 2019 are expected to grow 10%. that's a deceleration from 2018. but that's good by historic
standards. i think the market hasn't acknowledged that is the actual case. the market is going to be range bound as we get past some of these broader issues. >> maybe we'll get some resolution with north korea, china, nafta. how important are those things? i suspect dealing with retirement, it's got to be frustrating to see the great numbers not necessarily getting the kind of respect normally they would. >> the day to day noise does impact financial markets for short-term traders. we have really good numbers coming through in the next probably six quarters. my greatest fear is you have mid-term elections during the summertime historically is not good for the market.
if you get a lot of shaky and nervous investors you can have more selling than is appropriate. >> i will add to that, while that is true, after you get past the mid-term election you can see the market increase by 16 1/2%. every we are we had a mid-term election year, the market has gone higher. >> is it just a resolution with all of these unknowns. >> i think it's a resolution with all the unknowns. we had a little bit of rocky data in the first quarter. charles: welcome to the though, thank you. the industry coming clean on its role in the nation's opioid crisis. we are talking about the leading head of the billion dollar
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business droin tbiewtd problem. while progress has been made, it's a prominent and desperate situation. president trump tweeted, parading some of the work done. you can see it right there. national prescription drugs the numbers are in. $1 million pound of rx pills disposed. let's keep fighting this opioid epidemic. dr. powers, let me start with you. i see where the ceo of cardinal health talked about two pharmacies in west virginia that distributed millions of pills. to me it was an obvious red flag and they still went through with it. he was the one who said, i'm sorry. but they were comply? it this and they must play a major role to curb this.
>> from what i understand from the hearings today, a lot of them were not the big players. there will always be bad actors. 6,000, a small town in west virginia, it ended up 6,000 pills per person. that's pretty crazy. charles: where do we go from here? president trump will talk about this issue later this week. we have hearings in congress going on. it feels like there will be some national action. what would you like to see done? >> it's not just the pharmaceutical manufactures at fault. we have to look at the pharmacies. i would like to see more education for patients and providers. charles: whose role is that?
the doctors, or the pharmacists. >> the manufacturers, the patients, we are all responsible. charles: walmart is going to do just one week of prescriptions at a time. other side of this is folks are saying i am in pain, i'm a legitimate person who need this. my pain level on that 1-10 thing isn't even on there. it's like a 12. >> walmart and sam's club will implement this 7-day supply. it's fair. i am a surgeon, i prescribe opioids. i prescribe 3 days. but i rarely go over 7 days. there is a long-acting
injection. it's shown in trials uncreased numbers three days worth of no pain at all in a lot of the numbers. none addictive. it's injectable. charles: there is a major epidemic of vaping amongst young people. jewel is one of the items they are using. it seems like young kid are taking up the habit. >> these companies are creating flavors. these are targeted toward children. children are taking these and bringing to it school and smoking in class. charles: thank you both have much.
we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. charles: we are just minutes away from polls closing in several hotly contested states. we have jeff flock on the ground in west virginia. reporter: we have no indication how this is going to come out. the polling has been all over the place. three candidates, three republicans. among them, the west virginia attorney general, patrick more i rsh, then -- patrick morrissey,
then don jenkins, and blankenship has spent a year in prison after the explosion in the big branch mine that killed 29 workers. he has been a lightning rod of criticism in this from calling the family of senate majority leader china people, talk about swamp people. he has drawn a lot of criticism. he has also drawn criticism from the republican party saying if he loses he would not endorse one of his opponents. >> one of the two, yes, i probably would very i talked to evan jenkins and interest swriewd him i might support him. but patrick morrissey would be a rebranding of the west virginia values so i would not support
him. >> i'm trying to win this race and we'll keep working hard until the final bell rings. we are trying to get the turnout. support morrissey because otherwise blankenship might get the nomination and that would mean sure-fire loss. if you are thinking about voting for another candidate, know that the race is down to two people. please goat out to the polls and help out. reporter: president trump said the same sort of stuff. afraid of a repeat of the situation in alabama. this fella blankenship might make roy moore look like abe lincoln. charles: obviously blankenship comes with a lot of baggage.
but he is certainly the bona fide outsider. and the republican national committee is not choosing sides, but we are seeing money from top-level republicans going town the race to support the other candidates. the democrats would pick this up and say this is the national poster child for the party. >> none of these races is a national indicator. every race is local. west virginia presence a unique dynamic. highest unemployment in the country and opioid abuse. so to be the outsider it means being able to work as the president does and not that he's even goarsd these other two men.
but begging the people of west virginia to nominate someone who can come to washington and can win. blankenship is not that person. the people of west virginia want better, they know they deserve better. >> what do you make of the fact that all three these candidates saying i'm reincarnation of trump. we have seen in what lot of elections where gop candidates had not done that. in pennsylvania that tactic wasn't picked up. now it feels like the party is getting smart. tammy: indiana is an example. obama won in 2008, lost by double digits in 2012. and trump won by 19 points there these are states that have moved. they are part of this revolution. every republican who runs must understand knew because of the
president's success. we know he's serious, he's governing and attaching yourself to the president is the right thing to do. charles: we have live coverage starting at 8:00 with neil cavuto. and he'll go all through the night, but right now, here is. lou: . lou: president trump keeping another campaign promise pulling the united states out of the iran nuclear deal. we'll talk about this historic decision with dr. walid phares and dr. sebastian gorka. polls closing this hour in indiana, ohio, north carolina and west virginia. we'll be bringing you all of the latest results as they come in. plus